Bitcoin, Ethereum Technical Analysis: ETH Plunges Below $1,800 as Red Wave Intensifies – Market Updates Bitcoin News

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ETH moves below $1,800 as crypto markets plunge on Tuesday.

Following a strong start to the week, bitcoin was once again trading lower, as prices dropped below the $30,000 mark./USD slip to an intraday low of $29,311.68, which is over 7% lower than yesterday’s peak at $31,693.29.

After breaking out of its $30,500 ceiling on Monday, prices were unable to penetrate the higher resistance point of $31,550, which was an entry point for bears.Looking at the chart, today’s candlestick appears to be a bearish engulfing candlestick, which has wiped out the precious three days of gains.

Although prices are still trading above $29,000, should this floor break, then the target will likely be the $28,800 support level. As of writing, the 14-day RSI is tracking at 44.20, with its own support point fast approaching at the 43.30 mark.continues to hover lower to start the week, with prices today dropping to their lowest point in almost a fortnight.

The world’s second largest crypto token fell by nearly $2,000 in the last 24 hours, hitting its lowest point since May 28.

 

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I continue to regularly allocate usdt to buy Ethereum.

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